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#1736208 - 08/29/12 03:42 PM CRA Data Collection Penities
tumbleweed Offline
Member
Joined: Apr 2004
Posts: 86
Michigan
While completing a review of our CRA Data (Small Business/Small Farm Loans) we found some errors in fields such as loan amount, action date and loans that reported on the LAR that should not have been.

Question under CRA when examiners complete the data intregrity review if they were to find these errors what would be the consequences penities?

What error % would trigger a CRA srub and require us to resubmit the CRA file?

Is there somewhere in the reg that covers this?

Thank you in advance!
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CRA
#1736226 - 08/29/12 04:06 PM Re: CRA Data Collection Penities tumbleweed
Kathleen O. Blanchard Offline

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Kathleen O. Blanchard
Joined: Dec 2000
Posts: 21,277
It is not spelled out like HMDA. All fields are "key" and are expected to be correct. I have seen banks required to scrub and resubmit for a small number of errors.
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Kathleen O. Blanchard, CRCM "Kaybee"
HMDA/CRA Training/Consulting/Mapping
The HMDA Academy
www.kaybeescomplianceinsights.com

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